(4) The Chief Executive in Council may approve an extension of the franchise, but shall only do so if he is satisfied that the Corporation is capable of maintaining a proper and efficient service under this Ordinance and the operating agreement.
(5) Notice of any extension of the franchise granted under this section shall be published in the Gazette.
6. Restriction on transfer of franchise
The Corporation shall not transfer the franchise or any part of it without the approval of the Chief Executive in Council.
7. Directors of Corporation
Unless the Chief Executive in Council otherwise permits, a majority of those directors of the Corporation who are not additional directors appointed under section 8 must be persons ordinarily resident in Hong Kong.
8. Chief Executive may appoint additional directors
(1) The Chief Executive may appoint, for a period he directs, not more than 3 persons to be additional directors of the Corporation (in this section referred to as “additional director”).
(2) An additional director may not be removed from office except by the Chief Executive.
(3) Subject to this Part, an additional director shall be treated for all purposes as if he had been appointed at a general meeting of the Corporation as a director of the Corporation.
(4) Without affecting the generality of subsection (3), an additional director shall, in the same manner and to the same extent as any other director of the Corporation, be entitled—
- (a) to participate in meetings of the Corporation and the board of directors of the Corporation;
- (b) to have access to all material concerning the affairs of the Corporation; and
- (c) to be furnished with such information with respect to the affairs of the Corporation as he may specify.
(5) The Companies Ordinance (Cap. 32) and any other law, and any document, shall be construed subject to this section.
